valuation Flashcards
what is the valuation legislation
The RICS Global Standards as amedned 31 January 2022
what is VPS 1
Terms of engagement
VPS 2
Inspectopns, investigations and records
VPS3
Valuation reports
VPS 4
Bases of value, assumptions and special assumptions
VPS 5
Valuation approaches and methods
What is the valuing pracrice guidance application for secured lending?
VPGA 2
What are in the termsof engagement
Identifcation and status of valuer indentification of the client, indentificaton of the asset or liability being valued, valuation currency, purpose of the valuation, bases of value adopted, valuationdate, nature and exten of the valuer’s work, nature and source of inofmaion, all assumptions and speial assumption, format of report, restrictions on use, confirmation that the valuation will be undertaken in accordance with iVS, bais on whcih the ee will be caluatled, Reerence to complaints handling procedure, statement that cmpliance, a satement setting out limitation on liabilities
What is in the report content
Indentification and status of the valuer, identificaion of the client and any other intended users, purpose of valuaion, indentification of assets or liabilitiyes, basis of value adopted, valuation date, extent of investigation, nature and sources of information, assumptions and special assumption, restriction on use, confirmation that the valuation has been undertaken in accordance with IVS, valauation or valautionsm date of the report, commentary on ant materaial uncertainity , statemetn setting out limitations on the liability that have been agreed, limitations on liabilityies that has been agreed
What is the definition for market value
The estimated amount fr which an asset or labilitty shul exchange for on the valuation date between a willing buyer and a willing seller in an arms length transaction where both parties have acted kowlegebly and prudently and with out consumption
